Will Bullish Momentum Continue on ES – 2/25/16? Have a look at a buy and sell zone

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Published 2/25/16 8:18 am central:

Traders,

The bullish momentum carried over from the end of yesterday’s session into our overnight and this morning. We are slightly up this morning trading @ 1935.00 with a high @ 1938.50. The current low is 1920.25 so we have stayed above the weekly POC. Looking at the Market Action Scanner, we are neutral 3-time frames of the 4. So we need to really break out of these recent highs we have seen to get more fuel behind the bulls. Otherwise, I think we will be range bound and trade between these levels until we get some type of news event driving higher or lower. I would say 240 min and daily momentum is beginning to favor the bulls and looking at the SP odometer on MAS we are seeing the stocks starting to show weekly time frames flipped to green bullish and is holding. If we continue to see crude oil stay above $30 and grind back up to the $34 prices, I think we will see the ES market look to target the weekly Top level. However, I do think it will be a bumpy ride with every day presenting short term long and short opportunities we can look to try and take advantage of.

Our current chart is showing us that we broke through the 30 min buy zone. So we need to lean on that level as support or look for new formations to appear. As you can see what I highlighted on the MAS 4 hour level, that top level, if challenged, could be bullish wind in the sails. That is near the high on the day. So if you like the long side, I would look to be long near low 30s and use the 30 min risk level. If that level is broken we could see some downside action to the 1910 area where we broke out yesterday.

We will see what the day brings, right now bulls have control of this and look for momentum to move through the highs. Unless we challenge 1920 after the open.

30 Min SnapShot Chart: Click for larger Image

Source: dt Pro

Market Action Scanner: Click for larger Image

Source: Market Action Scanner

Economic Calendar: (found on dt Pro)

Source: dt Pro

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Market Action Scanner

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Andrew Pawielski was hired by Daniels Trading as a Series 3 registered Commodity Futures Broker. Over the years at Daniels Trading, Andrew has worked with hundreds of traders and investors worldwide in many capacities of execution, trading, teaching, and consulting. Andrew's experience and expertise is not just in full service arrangements, but also on the industry's leading managed futures, automated trading systems, and online platforms that are available to both retail and institutional clients.

Being knowledgeable and trustworthy in all execution types of the Futures industry has allowed Andrew to offer unique and specific arrangements that apply directly into his client's risk tolerances and comfort levels. Realizing the risk involved with today's modern markets, Andrew embraces the philosophy, if you're not comfortable then I'm not comfortable.

Andrew graduated from Northwood University with a double major in Business Management and Management of Information Systems with minors in Economics, Finance and Accounting.

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This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.